Bitcoin (BTC) may drop under $60,000 this week

In the Bitcoin (CRYPTO:BTC) market, whale holdings have shown little change, maintaining a balance between 13,841 and 13,872 for wallets with 100 to 1,000 BTC since March 24.

This steadiness could imply a decrease in momentum among significant investors.

The Relative Strength Index for Bitcoin has adjusted from 76 to 69, moving away from the overbought zone, which may indicate a cooling interest.

With the Exponential Moving Average lines nearing a death cross, a bearish signal is potentially on the horizon for Bitcoin, suggesting a price movement below the critical $60,000 mark.

This confluence of factors points towards a guarded outlook for Bitcoin, with a keen eye on the $62,300 support level and the possibility of testing lower thresholds.